The Harsh Truth About Annuities
Money Guy Show
Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors
4.7 • 3.1K Ratings
🗓️ 1 May 2020
⏱️ 59 minutes
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Summary
Transcript
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| 0:00.0 | Everything you ever want to know about annuities and more. |
| 0:04.4 | It's Brian Preston, the money guy, restoring order to your financial chaos, retirement, |
| 0:11.2 | investing, taxing. |
| 0:13.1 | You've got financial questions, he's got financial answers. |
| 0:16.7 | It's Brian Preston, the money guy. |
| 0:19.5 | Yeah, so this one I think is an interesting one, Brian, because annuities are of, it's |
| 0:26.4 | a polarizing word out there in the financial industry. |
| 0:29.3 | When you even start throwing it out there, either people's ears kind of perk up, or they |
| 0:33.4 | immediately turn 180 and move in the opposite direction as fast as they can. |
| 0:36.6 | Well, I mean, there's several things going on. |
| 0:38.8 | We talked about this in pre-show planning. |
| 0:40.4 | I don't tell people when I meet new neighbors or even people if you go to like an entrepreneur |
| 0:46.9 | junction or something like that, they say, what do you do for a living? |
| 0:50.6 | I always pause, because I never know what to say, because when you tell somebody you're |
| 0:54.5 | a financial planner, they, you know, you're not going to be able to do that. |
| 0:56.3 | They naturally social distance from you, because they assume it's a matter of time before |
| 1:01.5 | you either pitch them a life insurance policy, an annuity. |
| 1:05.6 | And that's so unfortunate to me that that's become synonymous with what financial planners |
| 1:10.7 | use in their toolbox. |
| 1:11.9 | So we want to kind of explain, because we've had, here's what's going on, though, we've |
| 1:15.1 | gone through a weird time. |
| 1:16.8 | I mean, because we've had stock markets that have crashed, we've had all of us go under |
... |
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